IRS Tax Refunds Down $6 Billion From 2018
IRS REPORTS FEWER REFUNDS, RETURNS COMPARED TO LAST YEAR
(CNN) – We are less than a week away from April 15th’s tax deadline and now we’re learning more about this year’s tax filing and refunds.
The Internal Revenue Service says it’s disbursed more than $206 billion in refunds through March 29th.
That’s down nearly 3% from the same period last year.
The IRS has also issues fewer refunds and processed fewer returns as well.
Tax preparers say this is expected, as this is the first year people are filing taxes that reflect changes made by president Trump’s 2017 tax law.
Speaking of refunds, more than 79% of processed returns have received a refund this year.
That’s down slightly from the same period last year.